RETURN TO WORLD TRADE

Taranaki Daily News, 12 July 1929, Page 11

RETURN TO WORLD TRADE

RECONSTRUCTION IN CHINA HOPES OF NEW GOVERNMENT CHAMBERS’ CO-OPERATION By Telegraph—Press Assn.—Copyright. Australian Press Association. Received July 11, 7.25 p.m. London, July 11. An event of international importance at the Chambers of Commerce congress at Amsterdam to-day was the subject of happy remarks by Sir Arthur Balfour in welcoming the Chinese delegation to the congress. He said he felt the entrance of China with its four hundred millions of people and with its immense economic potentialities was a memorable occasion. The British delegation had been impressed, said Sir Arthur, by the outline of the financial policy given by Mr. Chang Kiangau, who had declared the National Government in China intended to refrain from inviting foreign loans for administration purposes until they had reorganised the various sources of revenue already at their disposal. ■

■Sir Arthur Balfour observed that nothing was calculated to more plainly impress the world with the capacity of China’s new regime than really efficient co-ordination of her revenues. China’s evolutionary changes roused Britain’s sympathies. “We agree with China in thinking that the framework in which its foreign trade had hitherto been conducted requires alteration, and we welcome the alterations already made in connection with it- tariffs,” concluded the British delegate. The plenary session of the congress passed a resolution undertaking to organise a committee of commercial and banking forces in China for the purpose of co-operation with the National Government.